QuinStreet (NASDAQ:QNST) Shares Gap Up on Earnings Beat

Shares of QuinStreet, Inc. (NASDAQ:QNST - Get Free Report) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $20.20, but opened at $26.00. QuinStreet shares last traded at $23.16, with a volume of 436,620 shares changing hands.

The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. QuinStreet had a negative net margin of 5.11% and a negative return on equity of 13.00%. The firm had revenue of $279.22 million during the quarter, compared to analysts' expectations of $222.68 million. During the same period in the prior year, the company earned ($0.19) EPS. The business's quarterly revenue was up 125.3% compared to the same quarter last year.

Analysts Set New Price Targets

QNST has been the topic of several analyst reports. Lake Street Capital lifted their price objective on shares of QuinStreet from $20.00 to $25.00 and gave the company a "hold" rating in a research note on Tuesday. Stephens raised their price objective on shares of QuinStreet from $23.00 to $27.00 and gave the company an "overweight" rating in a research note on Tuesday. Barrington Research upped their price objective on QuinStreet from $22.00 to $29.00 and gave the company an "outperform" rating in a research note on Tuesday. Craig Hallum raised their target price on QuinStreet from $25.00 to $32.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, StockNews.com cut shares of QuinStreet from a "hold" rating to a "sell" rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, QuinStreet presently has an average rating of "Moderate Buy" and an average target price of $29.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. US Bancorp DE lifted its holdings in shares of QuinStreet by 880.3% in the third quarter. US Bancorp DE now owns 1,392 shares of the technology company's stock valued at $27,000 after purchasing an additional 1,250 shares in the last quarter. Quarry LP boosted its stake in shares of QuinStreet by 11,330.0% in the second quarter. Quarry LP now owns 2,286 shares of the technology company's stock valued at $38,000 after purchasing an additional 2,266 shares during the period. SageView Advisory Group LLC bought a new stake in shares of QuinStreet in the first quarter worth $60,000. Victory Capital Management Inc. bought a new stake in shares of QuinStreet in the 2nd quarter valued at approximately $175,000. Finally, ProShare Advisors LLC bought a new position in QuinStreet during the 1st quarter valued at $188,000. 97.83% of the stock is owned by institutional investors and hedge funds.

QuinStreet Stock Up 5.5 %

The stock has a market cap of $1.20 billion, a price-to-earnings ratio of -37.40 and a beta of 1.09. The company's 50-day simple moving average is $19.26 and its 200-day simple moving average is $18.12.

QuinStreet Company Profile

QuinStreet, Inc, an online performance marketing company, provides customer acquisition services for its clients in the United States and internationally. The company offers online marketing services, such as qualified clicks, leads, calls, applications, and customers through its websites or third-party publishers.